NCDC sanctions Rs 6000 crore with highest recovery in 2006-07

New Delhi, Feb 6 (UNI) National Cooperative Development Corporation (NCDC) has shown record performance on all major parameters in 2006-07, achieving highest ever disbursals of Rs 4010 crore and record sanctions of Rs 6253 crore.

While the sanctions recorded an impressive increase of 97 per cent, the disbursements were higher by 74 per cent over the previous fiscal. The recovery of NCDC's dues was the highest at 99.7 per cent and its net NPAs reduced to 0.17 per cent of the loans outstanding.

While appreciating NCDC for its 'spectacular' performance, Agriculture Minister Sharad Pawar today asked this apex financial institution in the cooperative sector to re-orient its decision making process to respond to fast emerging challenges.

Addressing the General Council of NCDC here today, Mr Pawar emphasized that large investments would be required to achieve four per cent annual growth of the farm sector in the XI Plan.

Though the annual growth rate has shown a rising trend in the last two years, reversing the deceleration experienced during the previous Plans would need further mobilizing resources, creating infrastructure, facilitating easy availability of inputs, organizing research and technology development, institutional support services and putting in place contingency measures to safeguard crops from natural calamities.

The cooperative sector would have to play an important role in this endeavour, the Minister said. NCDC has chalked out an ambitious programme of Rs 19640 core for the XI Plan.

The Minister also informed that 'with a view to providing one time relief to all debt-ridden farmers across the country, the Central Government is seriously deliberating on a package for such farmers.' UNI/JSS BJR RN1940